Report: The global industrial laser system market will reach 22 billion US dollars in 2022

According to the preliminary estimate of market research company Optech Consulting, the global industrial laser system market size will reach 22 billion US dollars in 2022, almost equal to the market size of the previous year (21.3 billion US dollars).
According to the analysis, the main reason behind the sluggish growth is the strong growth of the American market and the decline of the demand of the Chinese market. The situation of the Chinese market has also changed after the rapid growth in 2021.

(Source: Optech Consulting)

For the European market, the demand in the local currency has increased, but the dollar value of the regional market has not increased after taking into account the impact of the currency effect. Compared with 2021, the average value of the euro against the dollar in 2022 decreased by more than 10%.

From the perspective of application fields, laser applications related to electric vehicles (EV) and semiconductor manufacturing have achieved sustained and strong growth, with the most outstanding performance.

In 2022, the most critical industrial laser market in the global industrial laser system market reached US $5.3 billion, which is equal to the final value in 2021, equivalent to 24% of the laser system market.

By 2023, Optech Consulting expects that the growth rate of the industrial laser and system market will be between 5% and 10%. North America and Europe are expected to continue to grow, while China, as the largest market, is still difficult to grasp the accuracy of the prediction.

These preliminary estimates are based on the data available before December 2022, including the financial reports for the first three quarters of this year.

In 2021, the global industrial laser system market reached a record high of US $21.3 billion, an increase of 22% over 2020. The industrial laser market also reached a new record of $5.2 billion in 2021. These estimates are based on data as of mid-January 2022.

According to the statistics of Optech Consulting, the global industrial laser system (laser machine for laser material processing) market has grown at an average annual rate of 10.5% in the past 35 years. In contrast, the machine tool market only grew at a rate of about 3%. In the past 15 years, the global laser system market has grown at an average annual rate of 9%, which is lower than the average growth rate of 13% in previous years. Fortunately, the market has not shown the trend of saturation until today.

(Source: Optech Consulting)